Bullish’s Bid for the Big Time: Crypto’s Gotham Gets a Groove on Wall Street

by
  • Bullish files NYSE IPO, backed by Peter Thiel and a cast of ultra-rich characters. 🚀
  • Crypto exchange Bullish flirts with $1.25 trillion in trades — talk about a busy bee! 🐝
  • IPO aims to woo the bigwigs as crypto rules tighten up — picture a fancy soirée with blockchain! 🎩

Bullish, the crypto darling supported by billionaire Peter Thiel, has decided that the time is ripe for an IPO with Uncle Sam’s SEC. They’re eyeing the NYSE under “BLSH,” probably to make Wall Street blink twice and say, “Well, fancy that!” This signals a new level of trust—or at least, bravado—toward digital assets in the big leagues.

Bullish Hits a Whopping $1.25 Trillion in Trading Juices

According to Bloomberg, Bullish is a rather posh offshoot of Block.one and is swimming in a lagoon of high-profile backers. Investors like Nomura, exuding corporate seriousness, and Mike Novogratz, known for crypto daring-do, have thrown their hats into the ring. The crowd also includes Founders Fund and Thiel Capital, proving that everyone and their dog wants a slice of the blockchain pie. Plus, they now own CoinDesk, a news outlet that keeps everyone talking blockchain, which they scooped up in 2023. Because, why not? 📰

This enterprise is lounging in the Caymans (classy, huh?) and has become a word in crypto circles for its impressive trading wizardry. Since its debut, Bullish has processed over 1.25 trillion in trades—a number that could make even Scrooge McDuck swoon. It’s the darling of pros and big shots alike.

Tom Farley, the CEO, is no stranger to high finance—once the boss of the New York Stock Exchange himself. Under his leadership, Bullish aims to be a heavyweight in the crypto ring, all slap bracelets and all.

But behind the scenes, it’s not all champagne and confetti. Despite the sizable ambitions, Bullish is running a slight fever—losing about $349 million in the first quarter, even with $80 million in sales. A year ago, they profitably lounged at $105 million with similar sales, illustrating that crypto’s rollercoaster is real—hold on tight! 🎢

Yet, the starry-eyed company is marching on, betting that the U.S. markets are finally getting the crypto bug. Other crypto giants are jumping into the IPO pool too. Take Circle, which saw its stock shoot up over seven times post-IPO, like a rocket on a sugar rush!

Hoping to Catch the Big Fish: IPO to Woo in Los Angeles and Beyond

Meanwhile, Mike Novogratz’s Galaxy Digital has switched its listing from Toronto to Nasdaq—fancy! The Winklevoss twins, Cameron and Tyler, are also eyeing the IPO scene with Gemini, filing confidentially—like secret agents ready to infiltrate the stock market’s secret lair. Digital asset companies are suddenly the new hotcakes, attracting everyone with a dollar sign.

Oh, and in a shiny cherry on top, President Trump signed the GENIUS Act into law last Friday. Now, stablecoins—cryptos backed by U.S. dollars—have their own little umbrella of protection. Think of it as the government trying to say, “We’re watching you, crypto, but mostly we’re trying to keep the chaos in check.”

Bullish hopes to nibble on this regulatory pie, believing that going public now will give it the oomph—more capital, more investors, more the whole shebang. With Thiel, Novogratz, and Nomura waving the financial pom-poms, this IPO might just turn heads on Wall Street.

If all goes well, Bullish’s bold move could be the nudge the crypto world needs to waltz into the mainstream. Who knew that dreams of blockchain empire-building could be so… Wall Street-y? 🎉

Read More

2025-07-19 21:53